Tencent

News stories featuring Tencent:

South Africans can now use Mastercard’s Masterpass digital wallet to pay for goods and services at more than 30,000 merchants accepting SnapScan in South Africa, using their mobile phones by scanning a QR code at… More

McDonald’s South Africa is piloting a mobile payment service at select restaurants in Johannesburg and Cape Town using social messaging app WeChat Africa, enabling customers to complete purchases by presenting QR codes generated by the… More

Chinese internet giant Tencent is working to roll out its WeChat Pay mobile payment service to 10,000 Japanese stores by the end of 2016. “WeChat Pay, linked to the popular WeChat messaging app, lets its more than 300m users pay via smartphone at 300,000-plus locations in China,” Nikkei reports. “Only a few Japanese stores have adopted it so far. The plan is to have 20,000 stores in Japan accept WeChat Pay as soon as possible.”

Chinese ecommerce giant Tencent’s WeChat mobile payments and messaging app has been integrated with Givex’s Vexilor point-of-sale solution to enable users of the service to make in-store purchases by scanning a QR code. More

Chinese internet giant Tencent has reported that the number of monthly active users (MAU) of its mobile payments services has increased by seven times over the last year. Its QQ Wallet was used to exchange 6bn red envelopes during the Lunar New Year holidays and Weixin Pay was used to exchange 32bn red envelopes over the same period, up nine times on a year ago. “For Weixin and WeChat together, MAU reached 697 million at the end of 2015, representing YoY growth of 39%,” Tencent says.

Chinese internet giant Tencent has made its WeChat Pay platform available to overseas vendors so they can serve Chinese consumers when they travel abroad. “WeChat Pay is an in-app payment feature to allow all WeChat users to pay transactions quickly on their mobile phones,” Tencent says. “WeChat can handle all the ways your users want to pay, whether it is via Quick Pay, QR code, in-app, web-based or native in-app payments.”

Users of Tencent’s WeChat mobile payment service will soon be able to authenticate transactions with a fingerprint. “This new fingerprint authentication, enabled by the Qualcomm Haven security platform’s authentication framework, means that users will be able to conduct online transactions on mobile devices using their fingerprint,” says technology provider Qualcomm Technologies, a subsidiary of chip maker Qualcomm. The service will be available on Vivo X6 smartphones, before rolling out to other devices in the coming months.

Consumers across the globe will use their mobile phones to spend a total of US$620bn on all forms of mobile transaction this year, representing a 37.8% year-on-year growth from $450bn in 2015, research from TrendForce reveals. By 2017, total mobile payment revenue will reach $780bn, climbing to $930bn in 2018 and $1.08tn in 2019. More

Chinese ecommerce giant Tencent is testing its WeChat Wallet service with users in Hong Kong. “Users who are part of the pilot programme will be able to link their Hong Kong credit cards to the service and purchase items using the WeChat app, including movie and flight tickets,” the South China Morning Post reports. “A source close to the company said it may take several months before the payment service is rolled out to all WeChat users in the city.” WeChat Wallet launched in South Africa in November 2015.

Chinese ecommerce giant Tencent has launched a mobile wallet service in South Africa in partnership with Standard Bank. The service lets users of social messaging app WeChat make P2P transfers, pay for services such as airtime, data and electricity and make in-store payments by scanning QR codes at merchants supporting the SnapScan mobile payments platform. More

More than 200 million customers have bound their bank cards to internet giant Tencent’s QQ Wallet and Weixin Pay mobile payment platforms, the company has revealed — but supporting them is proving costly. “As we enrich payment scenarios and invest in initiatives to deepen users’ mobile payment habit, we are incurring significant bank handling fees on the C2C money transfers which we offer to users largely for free,” Tencent says. “We believe such cost represents a worthwhile investment for the future.”

People’s Bank of China has proposed new regulations that could force internet companies Alibaba, Tencent and Baidu to offer each others’ online payment services alongside their own. “If payment services from social networking and online entertainment firm Tencent and search firm Baidu are offered on Alibaba’s ecommerce sites, users could opt to use those,” Reuters reports. “Alternatively, Alipay could cement its dominance if customers opt to use it on rivals’ platforms.”

Chinese internet giant Tencent has released a mobile operating system that is set to include mobile payments functionality. TencentOS is designed for wearables, smartphones and other connected devices, and is part of TOS+, the company’s “intelligent hardware open platform strategy”. “The Shenzhen-based company will work with partners to integrate the software into devices including smart glasses,” Bloomberg reports.

Tencent’s instant messaging app WeChat can now be used to make payments in the retail stores of nine Chinese merchants including DQ Ice Queen, NUS Pharmacy, Rainbow, One Plus One, Lotus, Good Neighbours, Baby Room, Minsheng Department Store and NUS 365, according to Iamwire. “Whenever they click into the credit card function, there will be a two-dimensional code for scanning and barcode on the screen, respectively,” the report explains.